Slow-Healing Scars: The Pandemic’s Legacy

Recessions wreak havoc and the damage is often long-lived. Businesses shut down, investment spending is cut, and people out of work can lose skills and motivation as the months stretch on. But the recession brought on by the COVID-19 pandemic is no ordinary recession. Compared to previous global crises, the contraction was sudden and deep—using quarterly […]

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The Stock-Market Disconnect

The best explanation for why stock markets remain so bullish despite a massive recession is that major publicly traded companies have not borne the brunt of the pandemic’s economic fallout. But having been spared by the virus, they could soon find themselves squarely in the sights of a populist backlash. Read Here | Project Syndicate

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The Global Economy Will Never Be The Same

The pandemic has created a massive economic contraction that will be followed by a financial crisis in many parts of the globe, as nonperforming corporate loans accumulate alongside bankruptcies. Sovereign defaults in the developing world are also poised to spike. Read Here | Foreign Affairs

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America’s Dual Recession

Before COVID-19 shut down entire sectors of the US economy, the US workforce was becoming increasingly polarised along educational, racial, and geographic lines. Now, those trends have been accelerating, underscoring the need for a smart, worker-focused policy response. Read Here – Project Syndicate

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The Perfect Storm

If ever the modern world faced a “perfect storm,” this is it. The combination of a deadly and highly infectious virus, an emerging worldwide economic depression, the collapse of global governance, and an absence of a coordinated and effective international response—all have contributed to a tragedy of historic magnitude, one that will not be easily overcome. […]

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The Economic Consequences Of The Coronavirus Pandemic

An economy without crowds is not a “new normal.” It may be more like the new anomie, to borrow Émile Durkheim’s term for the sense of disconnectedness. For most people, the word “fun” is almost synonymous with “crowd.” The coming year will be a time of depression in the psychological as well as the economic […]

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